According to IMARC Group’s latest report, titled “Latin America Soundbar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market size reached US$ 295.7 Million in 2021. A soundbar is a single cabinet loudspeaker, which is extensively employed in the commercial, entertainment and residential sectors for producing stereo effects due to its high-quality audio. It can be operated through various electronic devices, such as desktops, laptops, tablets, smartphones and music players. The soundbar generally consists of a wireless connectivity option and stereo analogue input and output. Currently, it is commercially available in several types like cinematic, all-in-one and subwoofer.
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The widespread adoption of wireless audio devices in commercial sectors, coupled with the increasing utilization of various technological devices, such as desktops, smart TVs and smartphones, is one of the key factors driving the Latin America Soundbar market toward growth. Additionally, the rising popularity of various subscription-based and over-the-top (OTT) platforms, such as Netflix, Unscreen TV, Amazon, and Vimeo, is another growth-inducing factor. Furthermore, the introduction of innovative 4K and 8K television technologies, along with the rapid digitization and the integration of voice assistants like Google Assistance, Siri and Alexa, is creating a positive outlook for the market. Looking forward, IMARC Group expects the Latin America soundbar market to reach US$ 519.5 Million by 2027, exhibiting a growth rate (CAGR) of 9.99% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
- Active Soundbar
- Passive Soundbar
- Home Audio
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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